Grayscale Bittensor Trust (TAO) filed a Current Report on Form 8-K dated September 30, 2026, announcing amendments to its custodial arrangements. The Trust, sponsored by Grayscale Investments Sponsors, LLC, has updated its agreements with BitGo Bank & Trust, National Association, and Coinbase, Inc.
On September 30, 2026, the Trust entered into an amendment to the Amended and Restated BitGo Custodial Services Agreement. This amendment added Grayscale Bittensor Trust as a party to the agreement. As a result, the Trust’s prior custodial agreement with BitGo, dated March 12, 2025, was terminated. Under the new BitGo Custodian Agreement, BitGo serves as the Trust’s primary custodian. The agreement requires BitGo to keep the Trust’s TAO holdings in segregated accounts and maintain commercially reasonable insurance coverage. The Trust is responsible for indemnifying BitGo against losses resulting from a material breach of the agreement, except in cases of gross negligence, fraud, or willful misconduct.
In a separate move on September 29, 2026, the Trust entered into an amendment to the Coinbase Prime Broker Agreement. This amendment added the Trust as a party to the agreement, which includes a custodial services agreement with Coinbase Custody Trust Company, LLC. The Sponsor intends to utilize Coinbase to custody a portion of the Trust’s TAO holdings. At this time, the Sponsor has not determined the specific amount of TAO to be moved to Coinbase. Fees for the Additional Custodian are classified as Sponsor-paid Expenses. Coinbase is required to store the TAO in segregated accounts and maintain insurance coverage. Both custodians have the discretion to temporarily suspend operations and determine support for either branch of a forked Bittensor blockchain protocol.
